The Central Board of Indirect Taxes and Customs (CBIC) is set to significantly increase its use of artificial intelligence (AI), machine learning (ML), and real-time analytics in Customs processes, aiming for a near-touchless, near-digital clearance experience, according to Chairman Vivek Chaturvedi.
Customs officials in Palakkad seized over 51 kg of ganja, valued at Rs 25.88 lakh, from unattended backpacks at Palakkad Junction railway station. The seizure, made on September 17, followed intelligence about narcotic movement via trains. An investigation is underway to identify those responsible for abandoning the drugs.
A court in Mumbai sentenced a customs clearing agent to two years' imprisonment in four cases of import duty evasion, while acquitting three others due to flawed investigation by the CBI.
Bank of Baroda has launched 'bob World 2.0', an AI-powered mobile banking app featuring voice-command capabilities for payments and navigation. The updated app also includes a personal finance management module and a persona-based customer experience, aiming to offer intuitive, secure, and personalised banking services.
The Indian government has introduced a 0.4% transaction fee on UPI payments above Rs 2,000 for merchants, effective October 15, sparking a political row. The Congress party has labelled it a "Modi tax" and accused the government of succumbing to US pressure, while the BJP has defended the move, clarifying that consumers will not be charged and small vendors are protected. The finance ministry reiterated that the charge is on merchants, not customers.
India's Sports Minister Mansukh Mandaviya has announced the formation of a 10-member Task Force, chaired by Niti Aayog's Yugal Kishore Joshi, to assess the feasibility and challenges of reviving Formula 1 in the country. The committee aims to develop a roadmap for India to host a Grand Prix by 2028, focusing on sustainable growth, policy interventions, and addressing past issues like taxation. The Adani group, owners of the Buddh International Circuit, will also be involved.
The Maharashtra Food and Drug Administration has issued a comprehensive order mandating free drinking water for customers in all food establishments, banning food served in newspapers, and introducing rigorous operational standards. These new regulations aim to improve food safety, hygiene, and transparency across hotels, restaurants, and other food service providers in the state.
Finance Minister Nirmala Sitharaman urged PSBs to become 'cool' and shed their 'government bank' image to attract young customers.
The National Payments Corporation of India (NPCI) stated that the Merchant Discount Rate (MDR) "is distributed only amongst the UPI ecosystem, to further invest into infrastructure resilience, innovation, cybersecurity (protecting the UPI infrastructure with banks and non-banks) and customer service."
The Congress party has criticised the government's new 0.4% charge on UPI transactions above Rs 2,000 for merchants, terming it a "Modi tax". Opposition leaders, including Rahul Gandhi and Mallikarjun Kharge, allege that this move will ultimately burden consumers through price hikes and accuse the government of succumbing to American pressure to dilute India's zero-MDR policy. The government states the charge will support banks and fintechs.
The Mumbai Customs department seized narcotics, foreign currency, gold, and precious stones worth over Rs 46 crore at the Mumbai international airport in a week.
GIS intelligence solutions provider Mirai Aerospace Systems and Software Solutions has signed an MoU with US-based GreenValley International Inc to strengthen India's geospatial and LiDAR remote sensing manufacturing base. The collaboration focuses on local assembly, manufacturing, technical support, and the development of AI-driven LiDAR applications, aiming to meet India's growing demand across various sectors.
The government is introducing a 0.4% Merchant Discount Rate (MDR) on UPI person-to-merchant payments above Rs 2,000, effective October 15. This move ends the zero-MDR regime, aiming to fund UPI infrastructure and sustainability, as the previous government subsidy was insufficient to cover operational costs. Payments between individuals and most everyday merchant transactions will remain free.
The Finance Ministry has dismissed allegations of US pressure influencing the 0.4% Merchant Discount Rate (MDR) on select UPI transactions. It clarified that NPCI guidelines prioritise RuPay credit cards on UPI and do not favour international cards. The ministry also asserted that the MDR, applicable to person-to-merchant transactions above Rs 2,000, is unlikely to increase cash transactions or cause inflation, with measures in place to prevent burdening consumers.
An IndiGo flight carrying 229 passengers from Goa to Delhi was forced to make an emergency landing back at Manohar International Airport after one of its engines failed mid-air. The aircraft landed safely, and alternative arrangements were made for the passengers.
The Finance Ministry has clarified that the 0.4 per cent Merchant Discount Rate (MDR) on UPI transactions above Rs 2,000, effective October 15, is not expected to increase cash transactions or cause inflation. The ministry also dismissed allegations of US pressure influencing the decision, asserting that the policy aims to promote RuPay credit cards within the UPI ecosystem, and a monitoring mechanism will ensure the MDR burden is not passed on to consumers.
State-run Punjab National Bank (PNB) is strategically planning to enter the wealth management segment by early 2027 and significantly expand its credit card portfolio, aiming to tap into lucrative markets largely dominated by private-sector banks.
The United States has sanctioned four India-based companies, including a customs broker and three other firms, for their involvement in importing petroleum and petrochemical products from Iran. This action is part of "Operation Economic Outcast," a broader US campaign to sever Iran's financial lifelines and prevent funding for its destabilising activities.
The Enforcement Directorate (ED) Director, Rahul Navin, has issued directives to intensify action against Insolvency and Bankruptcy Code (IBC) frauds involving "large haircuts" and to address delays in police registering FIRs based on ED's requests. The agency also aims to fast-track high-profile trials under the Prevention of Money Laundering Act (PMLA) and enhance internal coordination and efficiency.
A 'technical issue' in the UK's National Air Traffic Services (NATS) flight processing system grounded hundreds of flights across the UK, including long-haul routes to and from India, leading to widespread disruption and prompting Ryanair to demand the resignation of NATS CEO Martin Rolfe.
The Customs Commissionerate (Preventive), Kochi, has seized multiple SUVs and arrested a used luxury car showroom owner as part of 'Operation Numkhor', an ongoing investigation into the smuggling of luxury vehicles from Nepal and Bhutan.
A man from Uttar Pradesh was arrested at Ahmedabad airport for allegedly possessing over 20 kg of marijuana after arriving from Bangkok.
The Department of Telecommunications (DoT) has instructed telecom operators to refuse new mobile connections to individuals who already possess nine or more SIM cards, effective from August 24, 2026.
Buyers should check their scope and triggers and whether they need such policies alongside their regular health insurance.
The reforms, undertaken by the Department of Defence Production, remove stakeholder consultation for exports of non-lethal defence items to most destinations, while retaining safeguards for sensitive countries.
India has finalised a deal with the United States to acquire Javelin anti-tank guided missile systems, significantly enhancing the Indian Army's combat capabilities. This procurement, facilitated through the US Foreign Military Sales process, underscores the deepening bilateral defence partnership and opens avenues for future collaboration and co-production between the defence industries of both nations.
Customs officials at Mumbai's Chhatrapati Shivaji Maharaj International Airport seized hydroponic weed valued at nearly 20 crore and USD 1 lakh in cash over two days.
Two Indian-origin individuals, Pritesh Walia, a jazz guitarist, and Venkata Vasamsetty, a green-card holder grandmother, have been detained by US Immigration and Customs Enforcement (ICE) in separate cases, highlighting the Trump administration's intensified deportation and enforcement drive.
BMW India CFO Carsten Lammers has expressed surprise at the extensive scale and prolonged duration of tax and Customs litigation in India, advocating for faster dispute resolution and simpler procedures to ensure business stability.
Bank fraud is no longer just an external cyber threat -- insiders with legitimate access can exploit banking systems, trusted credentials and institutional blind spots to quietly siphon money.
The devastating flash floods wreaked havoc across Nepal, with the ministry of external affairs on Thursday stating that 84 Indian nationals have been rescued while 290 remain uncontactable as the Himalayan nation stepped up search, rescue and relief operations following the disaster that has claimed more than 390 lives.
Nepal is grappling with one of its worst disasters in recent years as massive flash floods, triggered by an ice avalanche, have claimed 270 lives and left thousands missing across multiple districts, prompting urgent rescue and relief operations.
At least three people died, and 21 were left injured after a woman carrying an improvised explosive device detonated a bomb near a summer cafe in central Moscow after being stopped by security, according to officials.
Nagaland is seeking to implement the Juvenile Justice Act and Adoption Regulations in a way that respects the state's customary laws and traditional systems of care, while remaining legally sound.
'Taxpayers should not ignore any of these notices. Verifying the facts and responding promptly can help resolve issues early and avoid unnecessary litigation.'
Ahmedabad Cyber Crime Branch has uncovered a Rs 1.5 crore WhatsApp fraud, leading to the arrest of two key SIM and OTP suppliers in West Bengal. The investigation revealed a sophisticated international cybercrime network spanning China, Pakistan, India, and Hong Kong, operating a "boss scam" and utilizing a "Cybercrime as a Service" model. Police recovered a significant portion of the defrauded amount and secured thousands of devices.
Malicious cyber activity has disrupted technology at water and wastewater facilities in at least seven US states, forcing utilities to revert to manual operations, with authorities actively probing whether Iranian-linked hackers are responsible.
The Customs department seized gold worth Rs 3.15 crore from two passengers at Mumbai airport, including a finance professional smuggling gold due to US-Iran conflict concerns.
'It's not about individuals operating the mule accounts being more or less skilled. Instead, 'lower-level' refers to the role the individual account plays in the broader mule network.'
Customs officials at Mumbai's Chhatrapati Shivaji Maharaj International Airport seized electronic items, cosmetics, cigarettes, and crude gold worth over Rs 1.79 crore from passengers arriving from Dubai, leading to one arrest.
